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Question: 11 a consumers preferences are represented by given this utility...

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11. A consumers preferences are represented by Given this utility function, the assumption that more is better is satisfied for both goods. Or, the same. Both goods are good goods. (a) True (b) False 12. An increase in the price of good X and an equal percentag e increase in the price of good Y decreases the X-intercept and the Y-intercept, but does not change the slope of the budget line. (a) True (b) False

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